Healthcare Finance News January 25, 2024
Humana’s stock dipped following the earnings report, prompting the organization to cut its earnings guidance for this year and next.
Despite logging $26.6 billion in revenue for the fourth quarter of 2023, insurer Humana posted a $541 million overall loss, pinning much of the blame on a higher-than-anticipated increase in Medicare Advantage costs.
In a prepared statement on its financial performance, Humana said it was “disappointed with the impact of the late and unexpected development of higher trends on our 2023 results and 2024 outlook.”
The Wall Street Journal reported that Humana’s stock dipped 11% following the earnings report, prompting the organization to cut its earnings guidance for this year and next due to the increase in spending.
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